Reporting income & household changes after you're enrolled
Update your coverage for 2020 — or get ready to update for 2021
If you have a 2020 Marketplace plan and experience changes, update your 2020 application ASAP. These pages explain how to do that.
Note: Starting November 1, you'll update your 2021 application with any changes you expect for the year ahead. Learn how to get ready for 2021 Open Enrollment.
End highlighted textIf you're enrolled in a Marketplace plan and your income or household changes, you should update your application with income and household changes as soon as possible.
These changes — like higher or lower income, adding or losing household members, or getting offers of other health coverage — may affect the coverage or savings you’re eligible for. After you finish applying or enrolling, you may be asked to submit documents to verify your income.
Why it’s important to update your application immediately
- If your income estimate goes up or you lose a household member:
- You may qualify for less savings than you’re getting now. If you don’t report the change, you could have to pay money back when you file your federal tax return.
- If your income estimate goes down or you gain a household member:
- You could qualify for more savings than you’re getting now. This could lower what you pay in monthly premiums.
- You could qualify for free or low-cost coverage through Medicaid or the Children’s Health Insurance Program (CHIP).
See how your savings may change
Use this tool from the IRS to see how income and household changes can affect your savings.
If you need to cancel your plan
Some changes — like starting Medicare coverage or getting a job-based insurance offer — require you to cancel your Marketplace plan. Or you may want to cancel coverage for another reason.